Historic Mixed-Use
New
For Sale
$1,750,000
5611 6th Ave, Kenosha, WI 53140
Three-story property with leased restaurant and boutique space, updated building systems, and loft-style upper floors.
Property Size11,613 SF
Price / SF$150.69
Days on Market4
Property Features for 5611 6th Ave
General Information
Standard status
Active
Size
11,613 SF
Site & Location
Corner Location
Yes
Road Access
Yes
Utilities to Site
Yes
Restaurant
Patio
Yes
Equipment Included
No
Amenities
outdoor patio seating
soaring ceilings
original architectural details
open loft layouts
Building Details
Year Built
1880
Buildings
1
Stories
3
Construction
terracotta
Tenancy
Multi
Listing Agency:
Standard Real Estate Services, LLC
Listed By:
Christopher Michala · License #91937740
(414) 817-4250
Source:
Jwregwi
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 17 at 12:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Standard Real Estate Services, LLC
Investment Insights
Based on property information with market context.
Built in 1880, this 11,613-square-foot mixed-use building spans three stories and combines historic architectural character with updated core systems. The first floor contains two fully leased commercial units: a restaurant with outdoor patio seating and an independent boutique. Electrical, plumbing, HVAC, and roofing improvements support the building’s current operation.
The second and third floors provide open loft layouts with soaring ceilings and original architectural details. The property occupies the intersection of Main & 56th at 5611 6th Ave in Kenosha, directly along the vintage streetcar line and near Lake Michigan’s harbors, beaches, and downtown amenities.
The second and third floors provide open loft layouts with soaring ceilings and original architectural details. The property occupies the intersection of Main & 56th at 5611 6th Ave in Kenosha, directly along the vintage streetcar line and near Lake Michigan’s harbors, beaches, and downtown amenities.
Key Highlights
- 11,613‑square‑foot, three‑story mixed‑use building constructed in 1880
- Two fully leased first‑floor commercial units
- Restaurant space includes outdoor patio seating and has an 18‑year history
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$147,683
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,953,660
$3.0M
Cap Rate 7%
$2,109,757
$2.1M
Cap Rate 9%
$1,640,922
$1.6M
Market Conditions
NOI Build-Up for 11,613 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$209.0K $18.00/SF
− Vacancy
−$12.1K −$1.04/SF
EGI
$196.9K $16.96/SF
− OpEx
−$49.2K −$4.24/SF
NOI
$147.7K $12.72/SF
Area
Kenosha County, WI
Vacancy
5.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,953,660
Cap Rate 7%
$2,109,757
Cap Rate 9%
$1,640,922
Alternative Uses
Best Use
Specialty Retail
$2.11M
$1.85M – $2.46M
NOI $147,683 @ 7.0% cap · market cap 8.44%
Second Best
Mixed Use
$2.06M
$1.80M – $2.40M
NOI $144,233 @ 7.0% cap · market cap 8.24%
Theoretical Best
Warehouse
$13.52M
$11.83M – $15.77M
NOI $946,413 @ 7.0% cap · market cap 54.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,451
Businesses Nearby
24k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 25%
Wendy's
Dining
13,679 visits/mo
0.3 miles
Shell
Shops & Services
4,908 visits/mo
0.3 miles
SUBWAY
Dining
4,041 visits/mo
0.1 miles
BMO Harris Bank
Shops & Services
958 visits/mo
0.2 miles
Demographics for 53140, WI
30,571
Population
14,065
Households
2.2
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
7.9 sq mi
ZIP Area
3,870
Density / Sq Mi
$56,803
Median Household Income
$34,154
Median Earnings
$1,018
Median Rent
$191,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property with leased restaurant and boutique space, updated building systems, and loft-style upper floors.
Where is this mixed-use property located?
The property is located at 5611 6th Ave Kenosha, WI.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 11,613‑square‑foot, three‑story mixed‑use building constructed in 1880; Two fully leased first‑floor commercial units; Restaurant space includes outdoor patio seating and has an 18‑year history
